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Saatchi Gives U.K. His Gallery, $37.5 Million of Art

Charles Saatchi is giving the British nation his London gallery and more than 25 million pounds ($37.5 million) worth of art to secure the institution’s future as a showcase for emerging young artists.

The more than 200 works to be donated include Tracey Emin’s signature “My Bed” (1998) and Jake & Dinos Chapman’s “Tragic Anatomies” (1996), the Saatchi Gallery said. Opened at Duke of York Square in Chelsea in October 2008, the gallery will be renamed Museum of Contemporary Art, London once Saatchi retires.